Internet Marketing

Creating Your Product… Despite The Competiton

October 2, 2023

You know when you've got a DYNAMITE idea for a new product and you can't wait to get started on it – or maybe you already have.

Then you see that someone else has beaten you to the punch and released a very similar product just last week.

Well, that happened to me.

Decisions Decisions

Now what would *you* do in that situation?

At this point many people will simply fold.

They'll scrap their product idea and begin a search for a new idea.

But to be honest, I'm actually GLAD that someone has released a product like mine.

Do you know why?

Two reasons:

First, a successfully selling product on a particular topic means there's room for another product on the same topic.

And the reason there's room is because of reason number 2…

People who are deeply interested in a topic don't buy just one book or just one course – they buy everything they can get their hands on.

In fact, the person who released their product ahead of mine has actually done me a bit of a favour, because I can now see how well their product is selling. :)

A Couple Of Ideas

So if the same thing happens to you, here are a couple of suggestions.

Look for the information holes they forgot to fill and you can be the one to create the better product.

You can also see what their price point is and act accordingly. For example, if they're priced at $17, you might want to shoot for a much higher price to convey a much higher value.

On the other hand, if they are selling their product at several hundred dollars, you can choose to become the affordable alternative.

So next time you've got a great product idea and someone else beats you to the punch, you might want to thank them.

Strike A Deal

One more thing – don't be afraid to approach them and ask to do a deal.

They might very well be open to being your affiliate and mailing your offer to their list.

If your products are very similar, they can mail to their list of non-buyers.

If there's a difference such as price, they might mail to their entire list.

Remember – competition can be a GREAT thing when you're marketing online.

 

 

  • Alison Hadley July 7, 2014 at 1:23 pm

    Fantastic blog Paul, good luck with the product ;)) xx